Economic Growth in Kenya
The Kenyan economy recorded an average growth rate of 4.5% in the decade to 2022, higher than the 3.0% average for Sub-Saharan Africa. In 2022, real GDP growth was 4.8%. For more GDP information, visit our dedicated page.
Kenya GDP Chart
Kenya GDP Data
2018 | 2019 | 2020 | 2021 | 2022 | |
---|---|---|---|---|---|
Economic Growth (GDP, ann. var. %) | 5.6 | 5.1 | -0.3 | 7.6 | 4.8 |
GDP (USD bn) | 92.2 | 100.4 | 100.6 | 109.7 | 114.3 |
GDP (KES bn) | 9,340 | 10,238 | 10,715 | 12,028 | 13,483 |
Economic Growth (Nominal GDP, ann. var. %) | 10.1 | 9.6 | 4.7 | 12.2 | 12.1 |
GDP records fastest expansion since Q1 2022 in Q3
According to a preliminary reading, GDP growth improved to 5.9% year on year in the third quarter, from 5.5% in the second quarter. Q3's reading marked the fastest increase since Q1 2022.
The manufacturing sector gained steam, growing 2.6% in Q3 (Q2: +1.4% yoy). Retail and wholesale trade sector growth also sped up to 4.8% in Q3, from the 4.2% expansion in the prior quarter, and Q3 growth in construction picked up to 3.8% (Q2: +2.6% yoy). However, transport growth waned to 2.8% (Q2: +3.0% yoy). In addition, the agricultural sector grew 6.7% annually in the third quarter, decelerating from the second quarter's 8.2% increase.
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Kenyan GDP projections for the next ten years from a panel of 18 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable GDP forecast available for Kenyan GDP.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Kenyan GDP projections.
Want to get access to the full dataset of Kenyan GDP forecasts? Send an email to info@focus-economics.com.
Latest Global GDP News
-
According to a preliminary estimate, GDP growth picked up to 1.3% on a seasonally adjusted quarter-on-quarter basis in the first...
-
China: Economy records quickest expansion since Q2 2023 in the first quarter
GDP growth picked up to 5.3% year on year in the first quarter of 2024, above the 5.2% in the... -
Singapore: Economy records best year-on-year growth reading since Q3 2022 in Q1 2024
According to a flash release, GDP growth accelerated to 2.7% year on year in the first quarter of 2024, from... -
Guatemala: GDP grows at the slowest clip in over three years in Q4
GDP growth halved to 2.0% year on year at the tail-end of 2023 from an upwardly revised 4.0% in the... -
United Kingdom: Economic activity growth loses pace in February
GDP rose 0.1% month-on-month in seasonally adjusted terms in February (January: +0.3% mom), matching market expectations. On a rolling quarterly... -
Norway: Economic activity set back in February
The Norwegian economy stumbled halfway through the first quarter; total GDP contracted 0.9% in seasonally adjusted month-on-month terms in February,... -
Russia: Economy loses momentum in Q4
Growth lost steam at the tail end of 2023, with GDP increasing 4.9% on an annual basis in the fourth...